SK Group announced on Tuesday that it signed a memorandum of understanding on Monday with Topsoe Fuel Cell, a Danish fuel cell company, to develop and commercialize solid oxide fuel cells as a future energy source.

Higher in efficiency than previous types of generators, the SOFCs are the rising energy source for future generations, SK Group said. A SOFC generates electricity through the electrochemical reaction of liquefied natural gas, diesel and biogas.

The energy conglomerate said that the SOFC that it will be developing with Topsoe is more efficient than rival products. It also said that its SOFC can take different kinds of fuel and is applicable to homes, buildings and factories.

The company plans to finish the commercialization by 2015 at the earliest. SK Group’s subsidiary company SK Innovation will co-develop medium and large-sized SOFCs for buildings. Another subsidiary company, SK Energy and Service, will work on the commercialization project for SOFCs used in homes.

By Chung Joo-won (joowonc@heraldcorp.com)